SpaceX reported better-than-expected Q2 revenue of $7.8 billion and adjusted EBITDA of $3.5 billion, with a smaller net loss than forecasted. However, shares fell 7.5% after hours due to concerns over $18.4 billion in capital spending, mainly on its AI unit xAI, which outpaces returns. Investors are also wary of a large share overhang, as 911.5 million shares worth about $116 billion will become available for sale soon, potentially flooding the market and pressuring the stock price. This supply increase comes amid Musk's ambitious revenue targets, but the market remains cautious about the timing and impact of these share releases.
After SpaceX imposed speed limits on its Starlink satellite internet service that disrupted Ukraine's military drone operations, Ukraine's Ministry of Defense signed a letter of intent with Finnish companies Nokia and ICEYE to develop new satellite c...
Ukraine continues to experience restrictions on SpaceX's Starlink internet system, specifically the military-grade Starshield service, which limits drone speeds to under 100 mph. This throttling disrupts Ukrainian drone operations and limits their ab...
Citi projects SpaceX's Starlink will not launch a national wireless service until around 2029, positioning it behind established telecom giants like AT&T and Verizon. However, recent reports that SpaceX aims to secure 80,000 cell sites across the US ...
Shares of T-Mobile, AT&T, and Verizon fell sharply after reports that SpaceX is negotiating access to 80,000 U.S. cell sites, aiming to become a fourth national wireless carrier. This move would combine SpaceX's satellite service with terrestrial inf...
SpaceX is reportedly negotiating access to about 80,000 U.S. cell towers to establish a fourth nationwide wireless carrier, potentially disrupting the telecom market. While major carriers like Verizon, AT&T, and T-Mobile saw stock declines, tower own...
